Arabian Drilling signs offshore contract for Oman expansion
· Egyptian market news
Arabian Drilling has signed a contract with Masirah Oil Limited and Northern Offshore Limited to expand its regional operations into Oman.
The agreement, signed on 17 August 2026, covers the drilling of two confirmed wells and two optional wells.
The contract value represents less than 5% of the company's total revenue according to the audited financial statements for 2025.
This project follows the successful completion of the company's first international offshore drilling contract and the subsequent relocation of the rig to a new market within the GCC region.
Management stated that the contract will conclude upon the completion of the drilling activities. There are no related parties involved in this transaction.
While there is no additional financial impact beyond what was previously disclosed on 18 August, the company expects the financial results from this contract to be reflected during 2026.
This move is intended to demonstrate the flexibility of the company's operating model and its ability to capture regional opportunities.